Chapter 434: Facebook Financing (Part I)
In another world, Facebook is a social software launched by Zuckerberg during his college years, and the Harvard young man, in addition to his extraordinary intelligence and vision, is obviously from a Jewish family that has given him good business acumen.
So, step by step, this guy has promoted Facebook to the world in more than ten years, not only casting a world-renowned company, but also using it to have a net worth of tens of billions of dollars in his thirties, and is known as another "Bill Gates" by the United States.
However, going back to this time and space, because of the wings instigated by Gu Heng's little butterfly, through the hands of Xu Tingting, similar social software was launched, and through Gu Heng's capital investment, he achieved a first-mover advantage.
It is also because of this that a few months ago, Facebook, and the American version of Renren.com, two software pioneered by college students in the United States, the founding teams of the two sides finally chose to merge after some negotiations to create the future together.
After that merger, the latest social software was officially launched under the name Facebook.
Gu Heng, who earlier funded Xu Tingting with $3 million to launch the American version of Renren, initially owned 40% of the shares, and Xu Tingting and her entrepreneurial team raised a total of $1 million, owned 50% of the shares, and left 10% of the shares as an option pool.
After the merger with Zuckerberg's Facebook, Xu Tingting's side gave up a total of 25% of the shares to Zuckerberg's founding team, and Gu Heng's shareholding ratio was diluted to 30%.
In the early days of the business, Gu Heng's $3 million investment can be said to be precious, and it was with this precious capital that the early publicity quickly achieved good results, and finally merged Facebook.
As the saying goes, money is not everything, but no money is impossible.
Relying on the model of promoting by burning money, the new version of Facebook has gradually exceeded one million, two million, and unlocked the achievement of 8 million registered users in the middle of last month, reaching the top 100 websites in the United States.
After this point of development, although Facebook's upward trend has been relatively stable, the user reputation is also quite good. But in terms of funding, it is starting to be stretched.
In fact, Facebook in another time and space in the previous life, its earlier development trend was not so fierce, at the beginning it only targeted the development of college students, relying on the spontaneous promotion of users, step by step slowly spread the influence, to 2005, its college user group, only 8%.
But now, because of Gu Heng's experience accumulated through the operation and promotion of Renren.com, he planned Xu Tingting's entrepreneurial team, so that its initial promotion goals spread to a huge group including middle schools, universities, and workplace elites, and the mode of promotion by burning money made its initial development much faster than Facebook in the previous life.
Now the Facebook team is not willing to slowly expand its influence through user word-of-mouth, but wants to continue to maintain the momentum of rapid development, and set a development goal of 30 million users in 2006.
The world of young people has never lacked passion and enthusiasm, not to mention that the team members of Zucker Burke and Xu Tingting are all well-known college students in the United States.
If you want to continue to develop at a high speed, you need capital!
As a result, the topic of launching a new round of financing has been initially launched last month.
At that time, it was the time when Facebook exceeded 8 million users and approached the top 100 websites in the United States, and it was also the time when Facebook began to move into the eyes of those investment institutions, and thus gained the investment intention of some institutions.
As the largest individual shareholder of Facebook, Gu Heng naturally learned about this information through Xu Tingting's channels.
And just today, Facebook's board of directors approved the financing plan. And immediately sent a financing invitation letter to Gu Heng, the major shareholder, as well as some investment institutions and individuals who are optimistic about Facebook.
It is worth mentioning that before receiving the formal financing invitation, Gu Heng got first-hand information from Xu Tingting.
Different from the polite invitation on the invitation letter, Xu Tingting told him that at this board meeting, more than 80% of the shareholders agreed to reduce Gu Heng's shareholding ratio through financing.
Gu Heng is Chinese, and although Xu Tingting successfully obtained a green card as an investor in Mi, her nationality can be changed, but her skin color cannot be changed.
These are the most critical factors for the entrepreneurial team to believe that it is necessary to reduce Gu Heng's shareholding ratio.
Just as the Chinese people have the remark that "if they are not of my race, their hearts will be different", in the United States, there are also many people who have a rejection psychology for people other than whites.
Although the people in the entrepreneurial team are all highly intellectuals, it is impossible to look at the problem so narrowly, but what cannot be ignored is that they are a company, and what they need to consider is more about the attitude of users, as well as the official of the United States.
As one of the founders, Xu Tingting holds nearly 20% of the shares, plus the investors behind it, that is, 30% in the hands of Gu Heng, the shareholding ratio is already too high. If you count Huang Xin, who is also Chinese, the combined shareholding ratio of the three has exceeded 50%.
This can easily give outsiders the impression that Facebook is controlled by Chinese entrepreneurs, which is obviously not conducive to the long-term development of Facebook. After all, it is the land of the United States that it has taken root.
Therefore, even considering that Gu Heng's funds have given Facebook an initial development advantage, the Mi Guoren in the founding team firmly believe that Facebook's development prospects cannot be ruined because of this help.
Such a favorable and courteous proposal made Xu Tingting unable to argue, although she has a large voting power on the board of directors and the right to overturn this resolution, but reason tells her that if she really does this, Facebook's entrepreneurial team will be detached.
After all, when it comes to the long-term development of the company, their proposal is not wrong.
And she herself, once she casts that crucial negative vote, will be ostracized in this team that has learned a lot and grown a lot.
She doesn't deny that she feels a little lost when she feels like she can't make a choice.
Although she chose to start a business in Mi at the beginning, it was because she couldn't completely break it off, and she wanted to use this career to have a link with Gu Heng. also thought about providing assistance in Gu Heng's career sector, thinking that even if he could not become the most important woman in his life, he would also become his most indispensable woman.
But on the other hand, in the nearly a year since she started her business, she and the young people in the founding team have worked hard together for a goal and ideal, and have already accumulated a deep friendship, which also makes it impossible for her to easily vote for the veto.
Unable to make a decision, she thought of Gu Heng, and when the financing resolution was waiting for her most critical vote, she chose to temporarily adjourn the meeting, and then contacted Gu Heng.
Just when Xu Tingting thought that Gu Heng would be angry about this incident and thought that Facebook's entrepreneurial team was ungrateful, Gu Heng smiled and comforted her not to think too much, and then replied very calmly: "Agree to reduce shareholdings." ”
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